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Registered Number: 05605405
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 September 2023

for

AVON FASTENINGS LIMITED

Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Avon Fastenings Limited for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Avon Fastenings Limited for the year ended 30 September 2023 which comprise of the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Avon Fastenings Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Avon Fastenings Limited and state those matters that we have agreed to state to the Board of Directors of Avon Fastenings Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avon Fastenings Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Avon Fastenings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Avon Fastenings Limited . You consider that Avon Fastenings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Avon Fastenings Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 September 2023



....................................................
Pointon Young
Chartered Accountants
5 Mansell Street
Stratford upon Avon
CV37 6NR
13 March 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,792    2,390 
1,792    2,390 
Current assets      
Stocks 19,693    19,051 
Debtors 21,075    42,831 
Cash at bank and in hand 16,928    22,156 
57,696    84,038 
Creditors: amount falling due within one year (27,371)   (34,802)
Net current assets 30,325    49,236 
 
Total assets less current liabilities 32,117    51,626 
Net assets 32,117    51,626 
 

Capital and reserves
     
Called up share capital 12    12 
Profit and loss account 32,105    51,614 
Shareholder's funds 32,117    51,626 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 13 March 2024 and were signed on its behalf by:


-------------------------------
G Smith
Director
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General Information
Avon Fastenings Limited is a private company, limited by shares, registered in England and Wales, registration number 05605405, registration address Unit 10 Western Road Industrial Estate, Stratford upon Avon, Warwickshire, CV47 0AH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 October 2022 2,496    2,509    5,005 
Additions    
Disposals    
At 30 September 2023 2,496    2,509    5,005 
Depreciation
At 01 October 2022 106    2,509    2,615 
Charge for year 598      598 
On disposals    
At 30 September 2023 704    2,509    3,213 
Net book values
Closing balance as at 30 September 2023 1,792      1,792 
Opening balance as at 01 October 2022 2,390      2,390 


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